The Mumbai-based company is currently attempting to raise up to $7m in a share-issue alongside the Helix share sale, which represents about 80 per cent of the firm’s investment.
It bought a 28.6 per cent stake in MT for $8m in 2007 through compulsory convertible preference shares, which were converted in 2009.
The company is looking for a valuation of about $63m through the share issue, which represents 39 times its one-year-old earnings.
Helix also owns stakes in e-learning solutions provider LearningMate and electronics company Hi-Rel.
It targets investments of between $5m and $15m through its $100m fund, which is backed by Culbro and Bloomingdale Properties.
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